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A key feature of Northern Trust’s Investment Operations Outsourcing solution for investment managers has won the award for “Best Reporting Initiative” at the American Financial Technology Awards, held in December.

The award, from WatersTechnology, Buy-Side Technology, Sell-Side Technology and Waters magazine, recognizes the array of client communications capabilities of Northern Trust’s Investment Operations Outsourcing platform as well as “its flexibility and scalability to meet new reporting environments.” Northern Trust offers client reporting as part of its outsourcing solution, which provides back- and middle-office services to help investment managers control costs while pursuing asset growth globally.

“The ‘Best Reporting Initiative’ award validates our strategy of integrating a full suite of client reporting capabilities into our middle office outsourcing solution, and deploying the Equipos Coric software designed specifically for investment managers,” said Paul Fahey, head of product for Global Fund Services at Northern Trust. “Historically, asset managers have struggled to produce client reports that deliver an array of accurate information in a timely manner and an accessible format, with high-quality graphics and presentation. Our middle office outsourcing solution not only lightens the reporting burden for asset managers, it leverages a global process to incorporate client information from our data warehouse with manager commentary and company branding into a robust package for the end investor.”

The American Financial Technology Awards recognize industry excellence in the deployment and management of financial IT within the wholesale investment banking community. The judging committee included Waters Editor-in-Chief Victor Anderson, Deputy Editor Anthony Malakian and five end-users from the buy-side, sell-side, and exchanges. The eighth annual awards received more nominations than in any previous year.

Northern Trust is one of the world's leading asset servicing providers, offering global expertise and local specialist services to investment managers and institutional investors in more than 40 countries. Northern Trust's Corporate & Institutional Services business unit is a leading global provider of asset servicing, asset management, and related services to fund managers, sovereign wealth funds, pension funds, foundations, endowments, insurance companies and government funds. Its Global Fund Services business offers a broad array of middle- and back-office solutions customized to meet the needs of investment managers and fund sponsors, allowing clients to build services around their needs while providing the strength and scalability of one of the world's leading financial institutions.